New Builds are not just for first time home buyers, they are also a great way to get into your favorite area at bargain prices. New Builds can either be condos, townhouses or single detached homes that were built from the ground up. Many of these homes have all the features you would expect in a new home such as: energy efficient windows, high quality appliances, high speed internet, safety and security systems, and everything you need for a comfortable home. However, there are some downsides to buying a new home that was not designed for green living. If you are looking to save money and live in a safe environment, then new construction is the best option for you.
One of the main drawbacks to purchasing new builds is that they may find themselves not suitable for green living. If you plan on installing wind turbines or solar panels then you may find that your home cannot qualify. New builds are typically built from scratch, so any energy efficiency features and other greenery you add to it will be at the mercy of the building company. If your goal is to live a green lifestyle, than purchasing an older homes with all natural features may be the way to go.
New construction companies also make all sorts of additions to their new home builds such as high end kitchens, large swimming pools, and outdoor living spaces such as decks, patios and extra luxury gardens. While it is nice to have a house that looks like it was designed with green building in mind, you must consider what these features do to your monthly utility bill. If you add many new features, your monthly utility bill will go through the roof. While you may save money on your initial installation costs, you will end up paying much more in the long run.
Pros and Cons of New Builds
Another disadvantage to buying new construction is that you are not able to look around your neighborhood at other homes that are being constructed using the same environmentally friendly building methods that you want to use in your new build home. The blank canvas of an existing property allows you to become an eyesore to everyone around you. A prospective buyer may have friends or relatives that are looking for an older property, and they will look at yours before they even look at another new home that is being offered. It is also possible that a buyer will tell you that he or she likes the look of your new build, but that the price is too high.
There are some cons to buying new builds, however. One of the most noticeable problems that people notice with older homes is that they often have visible mold and mildew. These unsightly conditions not only affect the overall appearance of a home, but also can cause health issues. For this reason, many people will avoid purchasing any home that has visible mold and mildew. New construction does not usually offer a chance to repair these problems, and in some cases, builders will make necessary changes to fix the mold and mildew on their own.
There are also some disadvantages to buying new builds, especially for those who prefer to stay on-plan. One of the largest disadvantages of purchasing a new build home is that many developers do not allow on-site parking. While it may be possible to find an open lot that can accommodate your vehicles, many of these spaces are filled up quickly with cars from new build homes sold in the area. Also, new builds have lower property values than older homes, so buyers who purchase a new build home will usually need to make a larger down payment in order to afford the home. Additionally, the cost of utilities and water in an on-plan neighborhood may be higher than in a planned neighborhood, especially in the warmer months.